SBA Communications Corporation (NASDAQ:SBAC) Receives $237.00 Average Price Target from Analysts

Shares of SBA Communications Corporation (NASDAQ:SBAC) have received a consensus rating of “Moderate Buy” from the eighteen brokerages that are covering the stock, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $237.00.

Several analysts have weighed in on the stock. UBS Group dropped their target price on shares of SBA Communications from $285.00 to $275.00 and set a “buy” rating on the stock in a research report on Tuesday, October 14th. Royal Bank Of Canada decreased their target price on shares of SBA Communications from $235.00 to $232.00 and set an “outperform” rating for the company in a research report on Monday, November 10th. Barclays reduced their price objective on SBA Communications from $219.00 to $212.00 and set an “overweight” rating for the company in a research note on Monday, December 1st. Wells Fargo & Company reduced their price target on SBA Communications from $215.00 to $205.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of SBA Communications in a report on Tuesday, October 14th.

SBA Communications Stock Performance

NASDAQ:SBAC opened at $190.01 on Thursday. The firm has a 50-day simple moving average of $193.86 and a 200-day simple moving average of $208.88. SBA Communications has a one year low of $185.13 and a one year high of $245.16. The firm has a market cap of $20.25 billion, a P/E ratio of 24.77, a P/E/G ratio of 1.65 and a beta of 0.87.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, November 3rd. The technology company reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.21 by $0.09. The company had revenue of $732.33 million during the quarter, compared to the consensus estimate of $715.65 million. SBA Communications had a net margin of 29.69% and a negative return on equity of 16.60%. SBA Communications’s revenue was up 9.7% compared to the same quarter last year. During the same period last year, the firm earned $3.32 earnings per share. On average, research analysts predict that SBA Communications will post 12.57 EPS for the current fiscal year.

SBA Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 11th. Shareholders of record on Thursday, November 13th were given a dividend of $1.11 per share. The ex-dividend date was Thursday, November 13th. This represents a $4.44 dividend on an annualized basis and a yield of 2.3%. SBA Communications’s dividend payout ratio is currently 57.89%.

Institutional Investors Weigh In On SBA Communications

Institutional investors have recently added to or reduced their stakes in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of SBA Communications by 3.0% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 179,706 shares of the technology company’s stock valued at $42,202,000 after acquiring an additional 5,246 shares in the last quarter. Impax Asset Management Group plc grew its holdings in shares of SBA Communications by 58.2% during the second quarter. Impax Asset Management Group plc now owns 5,501 shares of the technology company’s stock worth $1,292,000 after buying an additional 2,023 shares in the last quarter. Avanza Fonder AB raised its position in shares of SBA Communications by 37.3% in the second quarter. Avanza Fonder AB now owns 8,784 shares of the technology company’s stock valued at $2,063,000 after buying an additional 2,386 shares during the last quarter. Donoghue Forlines LLC acquired a new position in SBA Communications during the second quarter worth about $2,824,000. Finally, Jump Financial LLC grew its stake in SBA Communications by 111.1% during the 1st quarter. Jump Financial LLC now owns 2,920 shares of the technology company’s stock valued at $642,000 after acquiring an additional 1,537 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Company Profile

SBA Communications Corporation (NASDAQ: SBAC) is a real estate investment trust that owns, operates and develops wireless communications infrastructure. Its core business is the leasing of space on communications towers, rooftop sites and other wireless structures to mobile network operators, broadband providers and other wireless service customers. The company also provides site development, construction and ongoing site management services to support the deployment and operation of wireless networks.

In addition to traditional macro towers, SBA offers a range of infrastructure solutions designed for dense urban and suburban markets, including small cells, distributed antenna systems (DAS) and fiber backhaul and transport services.